Ukraine has put an oil and gas block in western Ukraine up for sale at UAH 1.1 billion

The Ukrainian Geological Survey has announced its fourth auction in 2026, offering the Lysovytska oil and gas block for sale, according to the agency’s press service.

The starting price of the block is UAH 1.1 billion (excl. VAT), making it one of the most expensive assets offered. The auction is scheduled for July 29, 2026, and will be held on the Prozorro.Sale platform.

The Lysovytska block is located within the Stryi district of Lviv region and the Kalush district of Ivano-Frankivsk region. The license is granted for a period of 20 years. The total area of the subsoil plot is 80.11 sq. km.

In 1995–1996, detailed seismic surveys were carried out across the Lysovytska area by the Western Ukrainian Geophysical Exploration Expedition.

Preliminary recommendations suggest evaluating the Lysovytska structure through drilling with the following target depths: well No.1 – 5,900 m; No.2 – 6,700 m; No.3 – 6,700 m; No.4 – 4,000 m; No.5 – 5,400 m; No.6 – 5,600 m. Drilling into the third horizon is not proposed due to the significant depths.

According to the State Balance of Mineral Resources of Ukraine as of January 1, 2026, prospective oil resources are estimated at 33.07 million tons of total resources and 3.3 million tons of recoverable resources.

It is also important to note that the Lysovytska block overlaps with protected natural areas, including the Morshynske Uzlissia forest reserve and the Morshynskyi landscape reserve.

According to Nadra.Info, the auction of the Lysovytska block was initiated by Flexor Invest LLC, a Kyiv-based company established in February 2025 (headed and founded by Bohdan Kravchenko).